The product addresses unique risks in the rapidly evolving field of health care technology, including coverage for medical malpractice, technology bodily injury and cybercrime.
PRODUCT: Virtual Care
COMPANIES: Admiral Insurance Group, a Berkley Company.
AVAILABILITY: Appointed wholesalers only.
FOCUS: Recently, Admiral Insurance Group, a Berkley Company providing wholesale-dedicated excess & surplus lines commercial insurance, announced it will be adding Virtual Care to its primary and excess professional liability products.
The rapidly evolving field of specialized technology services and products designed to assist health care providers has created a gap between medical malpractice and technology errors & omissions insurance policies. As a result, there is a growing demand for insurance products that will effectively address the unique risks associated with these advancements.
“As technology is ever evolving, especially in the medical field, so are the associated risks," says Nir Gabay, senior vice president, head of professional liability at Admiral Insurance Group. “We're excited to now be offering our Virtual Care coverage that addresses those unique risks with comprehensive solutions."
COVERAGE DETAILS: The product provides up to $5 million limits for medical malpractice coverage; technology professional liability, including a broad definition of technology services to include artificial intelligence (AI), generative AI and machine learning; technology bodily injury and property damage coverage; first-party cyber coverage, including dependent business interruption, reputational harm and cybercrime; third-party cyber coverage; and media and regulatory proceedings coverage.
UNDERWRITING: An Admiral Virtual Care Application or similar competitor application is required to submit a risk.
TARGET: The product is intended for companies that offer technology-driven services or products that directly support health care services or products and whose clients are typically health care providers.
Sample classes include custom health care software development and licensing; general wellness mobile application or platform; telehealth platform for remote patient consultations; remote patient monitoring technology; teleradiology services; diagnosis and treatment plan analytics software; medical care coordination and referral platform; health care technology consulting; and value-added reseller of health care technology.
CONTACT: Charlene Goodwin, vice president, marketing, Admiral Insurance Group; 856-354-8886.
Will Jones is IA editor-in-chief.
